German energy firm RWE and the Ulsan Metropolitan City will work together to develop floating offshore wind projects off the South Korean coast, aiming for up to 1.5 GW in capacity.
The City of Ulsan will provide its government relationships and local network to support RWE during the planning and permitting phase. RWE said its Seoul-based team will work with relevant authorities, local stakeholders and supply chain partners to ensure that potential floating wind projects are well-sited and developed responsibly and safely.
Following consultations with relevant authorities, associations, and the local community, a feasibility study will be carried out to determine the viability of developing, constructing, and operating floating offshore wind projects off the Ulsan coast.
Song Chul-ho, mayor of Ulsan Metropolitan City, said: “South Korea is transforming its energy mix from nuclear power and coal to renewable energy. Our regional goal is that Ulsan City becomes carbon neutral by 2050. To reach this, we have to harness the good wind resources off the Ulsan coast.”
Sven Utermöhlen, CEO Wind Offshore of RWE Renewables, added: “At RWE we want to further expand our market presence in South Korea – one of the fast growing markets for offshore wind. South Korea’s excellent wind resource in combination with deep waters close to energy demand poses a great opportunity for floating wind.”
RWE currently operates 17 offshore wind farms in five countries. By 2030, the company intends to triple its global offshore wind capacity from 2.4 GW to 8 GW.